
Haas F1 Team Receives Purchase Offers: 'Really pushing'
Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content.
Haas team principal Ayao Komatsu has opened up on the numerous offers people made in the last 18 months to purchase the American outfit, with some even "pushing" to seal a deal, as Haas enters its tenth year in Formula One. He also highlighted the role of team owner Gene Haas and his dedication to keeping the team on the F1 grid.
Komatsu has been a part of Haas since its F1 journey began in 2016, standing by through its highs and lows. The team witnessed huge challenges in the Covid-19-affected year of 2020, with struggles continuing through to the 2023 season when Haas finished last in the Constructors' Championship.
Then-team principal Guenther Steiner was ousted ahead of the 2024 season, the year in which Haas witnessed significant progress under Komatsu. The managerial changes and failures from 2023 prompted several parties to approach Gene with offers to buy the team. However, Komatsu emphasized that Gene is passionate about F1 and has no interest in selling the team.
Haas F1 Team's British driver Oliver Bearman takes part in the first practice session ahead of the Formula One British Grand Prix at the Silverstone motor racing circuit in Silverstone, central England, on July 4,...
Haas F1 Team's British driver Oliver Bearman takes part in the first practice session ahead of the Formula One British Grand Prix at the Silverstone motor racing circuit in Silverstone, central England, on July 4, 2025. More
BEN STANSALL/AFP/Getty Images
Opening up on his upcoming run with Gene at the Goodwood Festival of Speed in a Haas VF-23 F1 car to celebrate the team's tenth anniversary, Komatsu said ahead of the British GP:
"This year when he [Gene] came to Miami, I could see that he actually enjoyed just being there.
"He always asks lots of technical questions because he's interested, but that hasn't changed. On top of that, he was just enjoying the occasion.
"I thought, wow, I'm going to ask him if he wants to drive in Goodwood. He didn't know much about Goodwood, but now he's driving, he read about it, and he's really excited for him to again experience things like that."
Addressing the pushy offers that came Gene's way to acquire Haas, Komatsu added:
"Honestly, he's seen lots of changes. He's so engaged now. He understands the details as well. What's the best way to put it? He's always been very passionate about the sport and the result. He always wants us to improve, which is what we need from the owner. He was always behind us.
"I don't know everything, but in the last 18 months he's had numerous offers to buy the team. He's not interested. He really enjoys being the owner of the F1 team. Currently one out of 10, from next year one out of 11. That's such a privileged position to be in.
"He came in at a time when F1 wasn't like this. He stuck with us during such a difficult period of COVID. Now he's enjoying it.
"Honestly, Gene's so committed. He's coming here [to Silverstone], obviously. He's arriving Friday or tomorrow and then staying for Goodwood. He's enjoying it. That's the main thing.
"We are grateful that we have such a passionate owner, so committed. He's not interested in selling at all. I can tell you recently I had some people really pushing to buy it, [Gene's] not interested. He got even annoyed that these guys are asking so many times."
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Hamilton Spectator
17 minutes ago
- Hamilton Spectator
What if killing Canada's digital services tax is just the beginning for Donald Trump?
OTTAWA—Call it a prudent climbdown, a show of weakness, or an unavoidable concession. There are several ways to look at Prime Minister Mark Carney's 11th-hour decision to cancel the federal government's Digital Services Tax last weekend. But what if it's also a tangible example of exactly what Carney warned would happen? The Liberal leader won a minority government on April 28 with a pitch that no one was better placed than himself to protect Canada from Donald Trump. The U.S. president has mused about using 'economic force' to annex Canada. As if taunting or teasing this country, he questions why it exists, and keeps floating the prospect of it becoming the '51st state' of the U.S. Two days before the election, Carney spelled out how he understood all of this. 'The U.S. is trying to put economic pressure on us to gain major concessions, to the extreme of a level of integration of our countries that would impinge our sovereignty,' Carney said that day in King City, north of Toronto. Carney, in his final campaign conference, ruled out any prospect the U.S. would use military Flash forward to last week. There was Trump, posting on social media that Canada's incoming Digital Services Tax — a policy that would force American tech giants and other firms, including Canadian ones, to pay up — was nothing short of a 'blatant attack' on the United States. Trump declared he had cut off all negotiations to resolve the trade war that started earlier this year with his wave of tariffs on Canadian goods. In other words, Canada's most important commercial and military partner, the destination for 76 per cent of all exports last year , was willing to ditch talks and dictate terms that could jeopardize thousands of jobs and hundreds of billions of dollars in economic activity. All over a domestic policy the Americans didn't like. Barely 48 hours later, shortly before midnight on a Sunday, the government announced the tax was dead. Not only would Canada not implement the policy as planned, it would repeal the 2024 law that created it. Is this Trump using economic pressure to force Canada's hand? 'It is exactly that,' said Lawrence Herman, a veteran trade lawyer and special counsel with the firm, Cassidy Levy Kent. 'It's an example of, on a particular issue, how much pressure can be brought to bear to force Canada to abandon not only a policy, but a law that has been in force for 18 months.' In Herman's view, the decision looks like a 'significant retreat' by the government, which shows 'how dependent we are on a reasonable relationship' with Canada's largest trading partner. Other policies that Trump has complained about, such as the supply management system for dairy and poultry, could be next, he said. Pete Hoekstra, the U.S. ambassador to Canada, told the CBC this week that he has a 'strong belief' Canada could water down that system by changing a law designed to protect it if that becomes part of a new trade deal. 'It's not a particularly good start to this so-called new economic and security relationship,' Herman said. He was referring to Carney's stated goal of talks that are now continuing under an agreement struck at the Group of 7 summit in the Alberta Rockies last month to strive for a deal to redefine the relationship by July 21. Others have been harsher in their judgment. Lloyd Axworthy, a former Liberal foreign affairs minister, posted online that Carney was acquiescing to Trump in a way that contradicts his 'elbows up' mantra on the campaign trail. 'Forget any dreams of a more sovereign, self-directed Canada. We're doubling down on the corporate cosiness and U.S. dependency that's defined our last half-century,' he wrote on Substack. Axworthy did not respond to an interview request Thursday. For Jean Charest, a former Quebec premier who sits on the government's Canada-U.S. advisory council, the situation illustrates the 'chaos' of dealing with Trump, whose administration is grappling with trade talks and tariffs threats against most countries on the planet. This meant that Carney's government was operating 'in a world of very bad choices,' Charest said. Deciding to scrap the Digital Services Tax, in that context, was 'certainly a legitimate choice,' he said. 'We are not in an ordinary world of negotiations,' Charest added. 'It would be nice to think, 'You give, I give ... we compromise.' It doesn't work that way with Donald Trump, and we're making our way through this by trying to protect essentially what's the most important for us in the short term, and that's a negotiation that has some legs.' Charest noted that there was opposition inside Canada to the Digital Services Tax, which would have applied back to 2022 with a three per cent tax on Canadian revenues from digital services companies with more than $1.1 billion in global earnings and $20 million inside Canada. The U.S. also pushed back against the policy when Joe Biden was in power. David Pierce, vice-president of government relations with the Canadian Chamber of Commerce, said his business lobby group felt the Digital Services Tax should be paused. He also said it would have been wrong to proceed with it after the U.S. dropped a controversial provision from Trump's major budget bill last week: the so-called 'revenge tax' that would have hit the U.S. assets of foreign businesses and individuals. That decision came as the G7 agreed to exempt American firms from a co-ordinated effort to ensure corporations pay a minimum tax, which was 'absolutely a win' for the U.S. Even so, Pierce said Canada likely had no choice but to drop the policy, given Trump's exploitation of Canada's 'weakness' — its major economic reliance on trade with the U.S. 'We just hope that this now paves the way for a good renewed deal,' said Pierce. The ultimate goal of the federal government in that deal, at least publicly, has been to return to the terms of the Canada-United States-Mexico Agreement (CUSMA), which Trump signed in 2018 during his first term, after disparaging North American free trade as unfair to his country. That would mean lifting the rounds of tariffs Trump has imposed since the winter, with import duties tied to concerns about drugs and migration over the border, and others that Trump slapped on Canadian autos, steel and aluminum in a bid to promote those sectors in the U.S. Canada has responded with countertariffs on its own that the government says hit more than $80 billion worth of American imports to Canada. Canada's lead trade negotiator with the Trump administration, Ambassador Kirsten Hillman, was not available for an interview this week, the embassy in Washington told the Star. Charest, however, said he believes it is possible that Canada could accept some level of tariffs in a July 21 deal, so long as they have no material effect. Such 'zero-effect' tariffs could only kick in at levels of trade that Canada doesn't or likely won't achieve, for example. Yet there's a question of how much any deal can be relied upon, so long as Trump is in the White House, unilaterally imposing tariffs that Canada views as 'illegal' violations of the 2018 trade deal. 'Trump is arguing about supply management and the (Digital Services Tax), but it's the U.S. that is in flagrant breach of its trade obligations. It's abandoned the CUSMA, virtually behaving as if it did not exist and the U.S. signature has no meaning,' Herman said. 'So we are in a world where rules and the rules-based system, and the stability that that treaty was supposed to provide, have gone by the board.' That means, at least for now, the Carney government is operating in a world where Canada's foremost ally, the colossus to the south, will use economic force to get what it wants.


New York Post
an hour ago
- New York Post
Mets, Yankees delivered New York a fitting early fireworks show on Fourth of July
The Citi Field crowd was large and loud. The weather was the precise perfect we missed all spring. And the holiday matchup in Queens turned out to be a home run — technically, seven of them. Even with the Yankees and Mets generally at their worst and unhealthiest in recent weeks — and let's hope it doesn't get much worse or any unhealthier than this — the show must go on. And what a Subway Series show these two struggling/ailing teams put on while simultaneously putting their various, increasing troubles aside. This was an American holiday done right, from first-inning fireworks featuring three home runs, including one each by superstars Aaron Judge and Juan Soto, to Jeff McNeil's game-winning home run and finally McNeil's show-stopper of a play in the ninth to help save a memorable 6-5 win for this seriously depleted Mets team. Advertisement 5 Cody Bellinger ripped a homer for the Yankees. Charles Wenzelberg/New York Post 'That was a [bleeping] good one,' one Met declared upon entrance into their clubhouse.
Yahoo
2 hours ago
- Yahoo
9 myths about home equity: What homeowners often get wrong
Home equity sounds like a pretty straightforward concept: it's the portion of your home you truly own, free and clear of debt. However, when it comes to understanding concepts like how home equity grows, the differences between home equity products, or how much equity you can borrow against – people can get a lot of things wrong. As a Certified HELOC Specialist, I often field many questions from confused homeowners on everything about home equity, including what it is, how to tap into your home's value, how that may impact your primary mortgage and more. A quick scroll through social media or online forums reveals a lot of misinformation out there. To help cut through the noise, I'm using this Bankrate column to dispel nine myths and misconceptions about home equity and home equity borrowing – revealing the truth that every homeowner needs to know. Just because the value of your home is $500,000 doesn't mean you have $500,000 in equity. Home equity is based on your home's worth, but it's not the same thing. To figure out your home equity, you have to subtract your mortgage balance from the appraised value of your home. So, if your home is valued at $500,000, but you still owe $350,000, your equity stake is $150,000. Understanding this distinction is important, especially if you're considering borrowing against your equity or selling your home. 2. Myth: Home equity always grows over time Since the COVID pandemic, home prices and homeowner equity levels have soared to record highs. Some people assume that both will keep climbing — but as anyone who owned a home in 2008 can tell you, that's not always the case. Residential real estate values declined drastically during the Great Recession. In fact, millions of homeowners found themselves in negative equity: owing more on their mortgages than their homes were worth. Markets fluctuate and if home prices drop, so can your equity. Take what we're seeing in 2025. The median home prices hit an all-time high of $422,800 in May 2025, and the average mortgage-holding homeowner has $302,000 in accumulated home equity as of the first quarter of this year, according to Cotality. But the pace of home price growth is slowing. And as home price appreciation slows, so do equity stakes. In fact, that $302,000 represents a loss of more than $4,000 in equity over the past year. Not always. True, when you take out a mortgage, your home equity builds slowly at first as the early payments mostly cover your loan's interest. As time passes, a greater portion of the payment goes to principal, speeding up equity growth. This process is known as mortgage amortization. But not all paths to home equity growth involve the long game of paying down your mortgage. You can gain immediate equity by making a larger down payment or paying closing costs upfront instead of rolling them into the mortgage when you buy a home. Additionally, making extra payments towards your loan's principal can help you increase your housing stake faster. Home renovations can also boost your property value and, in turn, your equity. But remember, not all renovations offer the same return on investment (ROI). Some improvements, like kitchen or bathroom upgrades, tend to have a higher ROI than others. I've often heard the terms HELOCs (home equity lines of credit) and home equity loans used interchangeably when describing home equity borrowing. Yes, both are financing products that allow you to borrow against your home's value. Both also use your home as collateral, meaning you could lose it if you don't make payments on either of them. That's where most of the similarities end. A home equity loan gives you a lump sum at a fixed rate, keeping your payments stable for the life of the loan. In contrast, a HELOC is a revolving line of credit with a variable rate, meaning your monthly payments may fluctuate based on the amount you borrow and market conditions. The other differences? With a home equity loan, the interest is applied to the entire loan amount, but with a HELOC, interest is only charged on withdrawn funds. Mixing up the two and not fully understanding the differences can lead to some expensive surprises down the road. It's true that home equity loans and HELOCs often come with lower rates than personal loans or credit cards. But we must not confuse 'lower' with 'low.' In today's higher interest rate environment, they're not always the deal they once were. For example, as of July 2, HELOC rates were averaging just over 8.25 percent, and some ran as high as 12.50 percent, according to Bankrate's national survey of lenders. Home equity loan rates were similar, running as high as 10.47 percent. The exact rate you are offered depends on several factors, including the lender, the loan type, your credit score and even where you live. Some advertised rates also include discounts if you sign up for automatic payments or have a checking account with that lender. No matter what some TikTok influencers are saying, a HELOC is NOT like refinancing your mortgage. HELOCs and home equity loans are considered second mortgages, which means they're completely separate debt from your primary mortgage. Everything connected with that stays untouched, including its interest rate. The confusion may arise from another equity-tapping vehicle, the cash-out refinance. This refi involves replacing your original mortgage with a bigger one; you take the difference — which is based on your equity stake — as a cash payout. That means you start fresh with a new mortgage, rate and terms. Even if they miss HELOC or home equity loan payments, some homeowners assume that as long as they're paying their primary mortgage, their home is safe from foreclosure. They couldn't be more wrong. While HELOCs and home equity loans are second mortgages, they are still secured by your home. Regardless of whether your first mortgage is in good standing, the home equity lender has the right to start foreclosure proceedings if you are in default, which is 90 to 120 days of missed payments. In the event of a foreclosure, your primary lender does get paid first. But that doesn't stop the second lender from trying to recoup its share. Both lenders have a legal claim to your home, and if you're in default on the second mortgage, it can trigger a foreclosure that puts your home at risk. Just because you have a large percentage of equity in your home, doesn't mean you can borrow all of it. Most lenders won't let you go above 80 to 85 percent of your home's value when borrowing, also referred to as the loan-to-value (LTV) ratio. Put another way: You have to leave 15 to 20 percent of your ownership stake untouched. Limiting the amount you can borrow provides a cushion that protects both you and the lender if your home falls in value. How much equity you can borrow also depends on your mortgage balance. When computing that LTV, home equity lenders look at both the amount you want to borrow and your current mortgage debt. So if the LTV limit is 80 percent, and your mortgage balance makes up 50 percent of your home's value, you'll only be able to borrow 30 percent of the value, regardless of how much equity you have. That said, there are some lenders that allow you to borrow 90, 95 or even 100 percent of the equity in your home. But there's usually a trade-off: you will likely be charged a higher rate. You also have to meet certain requirements, like having a very strong credit score, a strong loan-to-value ratio, or borrowing within a specific loan amount range. The bottom line: While hundreds of thousands of dollars in equity might look like a big number on paper, it's not real cash in your pocket. Nor will all of it ever be. Even if you own your home entirely, usually you'll be required to leave around one-fifth of your equity untapped. A reverse mortgage is a loan that allows you to borrow against your home equity. But instead of you having to pay the bank, the bank pays you (hence, the name). Whether taken in installments or as a lump sum, the funds are tax-free (though not interest-free). It is true that you must be at least 62 years old to qualify for a Home Equity Conversion Mortgage (HECM), the most popular type of reverse mortgage, which is backed by the Federal Housing Administration. However, a HECM isn't the only option. Proprietary reverse mortgages are available for homeowners 55 and older. Offered by private lenders, these mortgages are not insured by the government. They are sometimes referred to as jumbo reverse mortgages because they allow homeowners to access larger amounts than the HECM limit, which is $1,209,750 in 2025. Designed for higher-valued homes, loans are typically available in amounts up to $4 million, though you have to meet specific home equity, income and credit score requirements. A home and its equity is the biggest asset many people will ever own. So it's important to understand how your equity works and how you can – and can't — use it. With all the confusing jargon, hard-sell ads, and questionable advice on social media, it's easy to get steered in the wrong direction. Always consult a professional financial advisor or lender before making any moves: They'll help you distinguish home equity fact from fiction. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data